孖展動態 孖展倍數186.99x 孖展資金43.8億 捷利預測倍數243.09x
排名 券商 孖展資金
1 富途证券富途 17.8億
2 辉立证券辉立 12.5億
3 老虎国际老虎 4.8億
4 信诚证券信诚 2.5億
5 华盛证券华盛 1.8億
6 TradeGo MarketsTradeGo 1.5億
7 华泰国际华泰 1.3億
8 耀才证券耀才 8000萬
9 盈立证券盈立 3432萬
11 长桥证券长桥 1964萬
12 卓锐证券 418萬
13 盈宝证券盈宝 291萬
14 艾德证券艾德 230萬
孖展倍數
時間倍數
2025-04-25T06:00:00+08:000
2025-04-25T10:06:43+08:000.042735042735042736
2025-04-25T10:32:00+08:000.18247863247863247
2025-04-25T11:32:03+08:000.22179487179487178
2025-04-25T11:32:10+08:000.35
2025-04-25T11:32:13+08:000.4354700854700855
2025-04-25T11:47:00+08:000.4564102564102564
2025-04-25T12:07:49+08:000.5564102564102564
2025-04-25T12:07:56+08:001.111965811965812
2025-04-25T12:32:00+08:001.1192307692307693
2025-04-25T13:17:00+08:001.1226495726495727
2025-04-25T13:32:00+08:001.135042735042735
2025-04-25T13:46:06+08:001.1534188034188033
2025-04-25T13:46:14+08:001.4525641025641025
2025-04-25T13:46:21+08:001.708974358974359
2025-04-25T14:11:55+08:001.721794871794872
2025-04-25T14:12:04+08:002.020940170940171
2025-04-25T14:32:00+08:002.161111111111111
2025-04-25T15:39:10+08:002.2081196581196583
2025-04-25T15:39:22+08:002.55
2025-04-25T16:09:38+08:002.586752136752137
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2025-04-25T17:09:50+08:003.4286324786324784
2025-04-25T17:50:49+08:003.514102564102564
2025-04-25T17:54:15+08:003.5568376068376066
2025-04-25T17:54:43+08:003.7705128205128204
2025-04-25T18:10:12+08:003.806410256410256
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2025-04-25T18:10:47+08:004.884615384615385
2025-04-25T18:11:54+08:005.053418803418803
2025-04-25T18:47:00+08:005.193162393162393
2025-04-25T20:06:58+08:005.1952991452991455
2025-04-25T20:07:10+08:005.665384615384616
2025-04-25T20:07:22+08:006.092735042735042
2025-04-25T22:08:41+08:006.349145299145299
2025-04-26T00:02:00+08:006.349145299145299
2025-04-26T00:17:00+08:006.474786324786325
2025-04-26T09:37:35+08:006.608974358974359
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2025-04-26T12:06:59+08:0011.564957264957265
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2025-04-26T19:02:00+08:0013.401709401709402
2025-04-26T20:20:34+08:0013.396581196581197
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2025-04-27T09:15:12+08:0014.564529914529915
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2025-04-27T09:15:49+08:0014.949145299145298
2025-04-27T09:16:01+08:0014.863675213675213
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2025-04-28T07:32:00+08:0019.925213675213676
2025-04-28T08:37:59+08:0020.01068376068376
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2025-04-28T09:25:32+08:0019.967521367521368
2025-04-28T09:26:07+08:0019.924786324786325
2025-04-28T09:32:00+08:0019.926068376068375
2025-04-28T09:44:52+08:0020.78076923076923
2025-04-28T09:47:00+08:0021.03974358974359
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2025-04-28T11:00:36+08:0023.035042735042737
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2025-04-28T13:46:29+08:0028.025641025641026
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2025-04-28T16:06:25+08:0031.10811965811966
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2025-04-28T17:59:09+08:0032.88205128205128
2025-04-28T17:59:23+08:0036.728205128205126
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2025-04-28T18:11:38+08:0036.94871794871795
2025-04-28T18:12:14+08:0037.76068376068376
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2025-04-28T20:27:05+08:0043.06794871794872
2025-04-28T20:27:34+08:0043.70897435897436
2025-04-28T20:28:33+08:0044.77735042735043
2025-04-28T22:09:00+08:0047.597863247863245
2025-04-28T22:09:39+08:0048.36709401709402
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2025-04-29T08:47:00+08:0048.41111111111111
2025-04-29T08:47:49+08:0049.43675213675213
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2025-04-29T08:47:56+08:0050.50512820512821
2025-04-29T08:47:59+08:0051.01794871794872
2025-04-29T09:08:02+08:0051.077777777777776
2025-04-29T09:08:51+08:0052.146153846153844
2025-04-29T09:32:00+08:0052.14700854700855
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2025-04-29T10:06:22+08:0054.772222222222226
2025-04-29T10:06:49+08:0054.963247863247865
2025-04-29T10:10:21+08:0055.81794871794872
2025-04-29T10:10:35+08:0058.85213675213675
2025-04-29T11:02:00+08:0058.85940170940171
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2025-04-29T12:02:00+08:0059.108119658119655
2025-04-29T12:11:11+08:0062.27051282051282
2025-04-29T12:14:57+08:0062.697863247863246
2025-04-29T12:15:37+08:0062.71025641025641
2025-04-29T12:16:35+08:0063.97179487179487
2025-04-29T12:17:00+08:0064.0
2025-04-29T12:17:52+08:0066.35042735042735
2025-04-29T12:32:00+08:0066.38247863247864
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2025-04-29T14:07:49+08:0067.34401709401709
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2025-04-30T10:05:58+08:00141.57222222222222
2025-04-30T10:06:14+08:00141.78846153846155
2025-04-30T10:22:48+08:00178.96794871794873
2025-04-30T10:22:52+08:00179.32350427350428
2025-04-30T10:33:41+08:00179.3619658119658
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2025-04-30T18:57:14+08:00186.99
捷利預測倍數
時間倍數
券商孖展資金走勢
時間券商孖展資金
預測模型 一手期望中籤手數— 期望中籤1手所需手數—
倍數推導
近期首日表現
-0.2%
→
參與人數
16,148
→
人均手數
127.3
→
認購倍數
158x
158x = 16,148 × 127.3 ÷ 13,000 孖展加權 100% → 243.1x
1x42735.0x
分配手法係數 α
分配手法係數
反映發行人對不同申購規模的分配偏好。
α → 0  人均分配 — 每人獲配相同股數,與申購手數無關。
α → 1  按申購量比例分配 — 申購手數越多,獲配越多。
歷史 α 區間(P10–P90):甲組 0.3 – 0.9,乙組 0.4 – 1.0
0.51
分配手法係數 α
分配手法係數
反映發行人對不同申購規模的分配偏好。
α → 0  人均分配 — 每人獲配相同股數,與申購手數無關。
α → 1  按申購量比例分配 — 申購手數越多,獲配越多。
歷史 α 區間(P10–P90):甲組 0.3 – 0.9,乙組 0.4 – 1.0
0.61
此模型不適用分配手法調節

實際 vs 預測 對比

以實際認購倍數 198.72x 和當前分配手法 (甲組 α=0.508, 乙組 α=0.608) 為基準,對比各檔位的實際與預測期望中籤手數

申購手數 認購金額(HKD) 實際期望中籤 預測期望中籤 偏差

標誌博雷顿中籤預測矩陣

行為申購檔位,列為不同認購倍數,數值為期望中籤手數,綠色背景表示期望中籤≥1手;非預設倍數由相鄰網格插值估計。

發售機制說明

機制B

《第18項應用指引》下的靈活發售機制。最低初訂分配份額爲發售股份的10%,不設回補機制。最高初訂分配份額爲發售股份的60%(因《第18項應用指引》規定發售股份總數至少40%須分配予配售部分投資者,基石投資者除外)。發行人可根據發售結構、市場狀況及散戶投資者利益,自行釐定公開認購部分的初訂分配份額。

分配手法係數 α

α 為發行人分配偏好係數,描述發行人對不同申購規模的分配傾向。α 取值範圍 [0, 1]。

  • α → 0:人均分配——無論申購多少手,每位中籤者獲配股數相同。對散戶(小單申購)更有利。
  • α → 1:比例分配——獲配股數與申購手數成正比。對大額申購更有利。
  • 歷史實際 α 區間(P10–P90):甲組 0.3–0.9,乙組 0.4–1.0。不同IPO的α值差異較大,反映發行人各自的分配策略。
中籤率定義

本頁面的「中籤率」定義與港交所配發結果公告完全一致:中籤率 = 該檔位獲配股份總數 ÷ 該檔位有效申請股份總數 × 100%。此為港交所官方口徑,與其他網站可能使用的不同定義(如「申購人數中籤比例」)有本質區別。

期望中籤手數

期望中籤手數 = 該檔位獲配總股數 ÷ 每手股數 ÷ 該檔位申購人數

例:某檔位獲配總股數 50,000 股,每手 100 股,申購人數 500 人 → 期望中籤手數 = 50,000 ÷ 100 ÷ 500 = 1.0 手。

關於本頁

本頁展示 博雷顿(01333)的中籤預測:基於相似 IPO 匹配的期望中籤率、甲乙組資金效率對比。
默認認購倍數按「近期首日表現 → 參與人數 → 人均手數 → 認購倍數」鏈條推導,公式為 認購倍數 = 參與人數 × 人均手數 ÷ 公開發售手數;其中參與人數與人均手數以近期 IPO 的中位數為基準,再按發行規模、A+H 身份、H 股折溢價、行業、併發 IPO、保薦人歷史表現與恒指近期走勢等特徵調節。
認購窗口前期默認倍數以模型推導為準;隨認購進度推進逐步結合孖展倍數加權;臨近截止(進度約九成後)默認倍數以孖展倍數預測為準。
中籤率預測基於歷史 592 隻 IPO 的 22087 條配發檔位數據做迴歸擬合與 KNN 相似匹配,估計各申購檔位的期望中籤手數,並結合分配手法係數 α(人均分配至比例分配)給出區間。你可以自訂認購倍數與分配手法係數 α,覆蓋 cibo 的默認預測,查看不同場景下的期望中籤手數。中籤率的計算方式與回撥規則見港股中籤率怎麼算。
數據來源:港交所披露易平台公開發售配發結果公告、招股說明書、FINI 平台公告;孖展數據(孖展倍數、捷利預測倍數及券商明細)來自捷利交易寶(TradeGo),倍數僅覆蓋已上報券商,捷利預測倍數為全市場外推值。
孖展倍數盤中實時更新;中籤率預測模型隨新股配發數據入庫不定期迭代。

Cibo — 港股IPO中籤率預測、中籤畫像與入通分析